Vancouver — Hathor Exploration (HAT-V, HTHXF-o) reported a U3O8 whopper in its latest batch of drill results, hitting 23 metres grading 11.2% U3O8 starting at 295 metres depth in hole 40.
Two other holes from its Roughrider zone at the Midwest Northeast property in the Athabasca basin of Saskatchewan also returned good grades. Hole 37 cut 18 metres grading 4.2% U3O8 from 296 metres down-hole. Hole 42 hit 3.5 metres of 5.9% U3O8, starting at 277 metres.
The results follow a slew of high-grade assays Hathor has released this fall, including 69 metres grading 2.3% U3O8 starting at 332 metres in hole 30.
The mineralized area begins between 210 and 215 metres below surface. A mixed bag of basement rocks — clay-altered to clay-replaced pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and microgranite — host the higher-grade mineralization.
Between its winter and summer drill programs, Hathor has drilled around 16,000 metres in 42 holes at the property. The company owns 90% of Midwest Northeast, with Terra Ventures (TAS-V, TASFF-o) holding the rest.
The latest news lifted Hathor’s shares by 5, to close at $2.29. The company has about 79 million shares issued and outstanding.
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